Would love to hear a question re Bush's '00 quote on Gas prices

[Jack from Charlotte]

Also, would love to know the price of gas on the day he made this statement.

During the 2000 Presidential election campaign, Gov. George W. Bush promised to take on the OPEC cartel on behalf of American consumers. Bush said:

“I think the president ought to get on the phone with the OPEC cartel and say, ‘We expect you to open your spigots.’ … The president of the United States must jawbone OPEC members to lower the price.”


On the campaign trail in 2000, Bush spokesman Scott McClellan cited rising gas prices as an example of “failed leadership,” contending that if elected, Bush would support a government investigation of higher gas prices. But gas prices in the United States have reached a record high under the Bush Administration, climbing three cents in just two weeks to a nationwide average of $1.80. According to AAA, gas prices could mean that the average American family would spend an extra $600 at the pump this year, and a gas price increase to $2 a gallon could offset the entire impact of last year’s Republican tax cuts.

[Supersedeas]

1. and the investigation?

[unblock]

2. you'll recall his "target" price was $25-$30/bbl, we're now over $50/bbl

and guess what?

the domestic oil suppliers gave campaign $$ to shrub in droves.

and guess what else?

the domestic oil suppliers now drill and pump at the same cost but sell at double the price!

ain't democracy a beautiful thing?

[KharmaTrain]

3. And We're All Used To $2 A Gallon Gas

Then 2.50 and so on.

The oil companies bitched that their actual profits...compared to the rise in inflation, economy yada yada was far less than any other corporation. Methinks they hated seeing so many make such big profits in the 90's (a lot on stock speculation) and they were throttled by Clinton.

I've contended since 2000 that the initial price rise, that started around June, 2000 (remember the energy crisis in California???) was purposely done to slow down the economy and create a recession in time to tar Gore with in in November. Problem was the "bubble" of this price hike didn't really kick in until after the election and didn't really help them, but by then what did it matter, the foxes had stolen their ways into the henhouse.

[unblock]

6. recessions are great for corrupt administrations

when the economy is humming, everyone can make money legitimately.

when the economy sucks, it really helps to have a government official put a loophole or exemption through, or let you skirt a law or three.

plus, the weak economy provides political cover for the politician to extend such largess, after all, times are tough and businesses need a helping hand....

[IowaGuy]

4. During the Clinton administration....Cheney said...

on Meet the Press (as I recall, possibly may have been another Sunday program)...and I paraphrase...Oil is now undervalued...It should be trading above $40 a barrel.

It is now heading toward $60/barrel from being @ $22/barrel when Clinton left office. Who says this administration is incompetent?...they got just what they wanted.

[Awsi Dooger]

5. Kerry should detail a specific example of the impact of gas prices

Like this one: on the day before the Iraq war, I intentionally memorized the price at my nearby station in Las Vegas. It was 1.29. Yesterday the same station was 2.11.

That is a 64% increase. If a car with a 15 gallon tank is filled once a week all year, that amounts to $640 more per year, for the identical product and amount.

An insignificant yawn for Bush's limousined base, but a significant chunk of the ballyhoed tax cut for the vast majority of us. The remainder is more than wiped out when you throw in heating prices and health care costs and all the rest.

[ThoughtCriminal]

7. How are prices in battleground states?

Any difference?